state of accounting: a clarion call for cpas and accountants to get out of the box

State of Accounting: Time to Get Out of the Box Speaker: Tom Hood, CPA, CITP, CGMA Session Number: SA-60 Date/Time: July 30, 2015 2:30pm-3:15pm Speaker Twitter Handle: @tomhood

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@tomhood

Leave me alone! I spent thirty years building this box.

Cloud computing trends

of small businesses are demanding cloud-based computing

61%

YET, Only 10% of CPAs using cloud to work with clients!

Source: Sage North America

www.blionline.org

Source: CPA.COM Insight into the CPA of the Future Study 2014

Only 8% of CPAs are Future Ready

Future Ready is the capacity to be aware, predictive, and

adaptive of emerging challenges, tech innovations, and trends

and changes in business, population, and social

environment.

Gradual then Sudden

AirBnB Rooms available surpasses Hilton & Marriott

'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch

Will your job be done by a machine?

Source: NPR Planet Money, May, 2015

Clients and Employers want CPAs to offer PROACTIVE advice and insights that are actionable about the future!

Five Steps to Get Started1.  Focus on the Future2.  Start with Certainty to

Find Opportunities3.  Learn New Skills4.  Protect the Core Purpose

& Values5.  Collaboration &

Relationships are key

Why are windshields so much bigger?

CPAs are trusted advisors who help business and organizations shape their future. Combining insight with integrity they deliver value by:

•  Communicating the total picture with clarity and objectivity;

•  Translating complex information into critical knowledge;

•  Anticipating and creating opportunities;•  Designing pathways that transform vision

into reality.Source: AICPA: CPA Horizons 2025 Report

V A L U E

Adding Insight for Action

Information

Wisdom

Knowledge

Data Capacity

Competence

Credibility

Source: CGMA & DIKW Pyramid

Start With Certainty & Find Opportunities

www.blionline.org/ao

Cloud computing trends

of small businesses are demanding cloud-based computing

61%

YET, Only 10% of CPAs using cloud to work with clients!

Source: Sage North America

OPPORTUNITY Technology’s impact on firm service lines

•  Efficiencies •  Innovation

•  Efficiencies •  Innovation

•  Transformative •  Revenue Growth

New Opportunities Emerging

Dramatic Change

Audit Tax Accounting services

Source: AICPA Spring Council 2015

www.blionline.org

ANTICIPATION  Strategic  Thinking  External  Awareness  Vision  Con7nuous  Learning  Innova7on  Crea7vity  Problem  Solving  Priori7za7on  Business  Acumen  Decisiveness  Influencing/Persuading  Emo7onal  Intelligence  Consensus  Building  Collabora7on  Inspira7on  Risk  Management  

Anticipation – The Critical Competency•  Anticipating and reacting to the

nature and speed of change.•  Acting decisively without always

having clear direction and certainty.

•  Navigating through complexity, chaos, and confusion.

•  Maintaining effectiveness despite constant surprises and a lack of predictability.

TrustIntegrityObjectivityExcellence Lifelong Learning

Protect the Core AND Stimulate Progress

When everything is changing, know what should not change…

The future is about relationships!

Top Five Barriers1. Not enough time.2. Being reactive versus

proactive.3. Doing more with less.4. Information overload

(standards and regulations).

5. Managing change.

Start today!

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BLI.CNF.IO Select your sessionand join the conversation:Sage – State of Accounting

http://www.blionline.org/ao

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Download today’s slides at …www.SlideShare.net/thoodcpa

If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today

Tom Hood, CPA, CITP, CGMA

CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations

CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org

http://www.linkedin.com/in/tomhood/